Unfortunately, there are too many traffic accidents happening every day in the United States. The liability of the auto accident can have a major impact on the bottom line of your company.
How will you know if your company needs to purchase commercial or owner operator tow truck insurance in Texas?
Will you be covered if you just use a personal liability policy?
Companies typically need to purchase an auto insurance policy for their commercial vehicles when the trucks are part of the driver’s responsibilities. If you need your commercial or tow truck to do your job, then having commercial tow truck insurance in Texas is most definitely something you need to have.
Unfortunately, some people have a hard time making a decision on purchasing commercial tow truck insurance in Texas because their situation is not always so straightforward.
If your situation is difficult and you need to determine if you need to have insurance for your commercial truck, you can consider the following information:
Owner Of The Vehicle
Does your business own the commercial or owner operator truck? If your business does own the vehicle, you will be generally required to buy a commercial policy for that commercial truck. When any one of your drivers is behind the wheel of a vehicle that your business owns, you will be held liable for it. If you are the sole owner of the vehicle, you may be able to purchase only personal coverage for your vehicle. The best way for you to get the proper information is to speak with an insurance agent.
Vehicle Usage
Is your commercial truck being used several times during a period of one month? If you use your commercial trucks over five times during the month, purchasing commercial vehicle insurance is a decision you will need to make it. If you only use the commercial vehicle to travel to and fro, you may not need to have company coverage.
If your commercial truck is used for anything, such as the following, you certainly need to contact an insurance agent for a quote:
- The transportation of goods
- Hauling a trailer that is needed for your business
- The transportation of people
- Transporting equipment
- Transporting materials that are seen as dangerous and hazardous
- Trucking purposes
There are exceptions to not need commercial truck insurance for your company, but these exceptions are few. If you want to know if your situation falls under needing company insurance, contact us today.
